Minority Whip Hoyer Rejects Efforts to Pass Short-Term Ex-Im Bank Reauthorization
House Minority Whip Steny Hoyer, D-Md., rejected a Republican push to introduce a short-term extension for the Export-Import Bank, in a Sept. 4 statement just before both chambers of Congress reconvene. Lawmakers have laid out a number of legislative proposals…
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to extend the bank’s charter in recent months (see 14071107). House Democrats, led by Rep. Denny Heck, D-Wash., introduced in late June a bill to reauthorize the Export-Import Bank for seven years at a $5 billion annual increase, culminating in a $175 billion mandate in fiscal year 2021. Only three Democrats did not join the list of co-sponsors on the Heck bill. Forty-one Republican House members also urged in a June 23 letter to Speaker of the House John Boehner, R-Ohio, and Majority Leader Kevin McCarthy, R-Calif., to pass a multi-year Ex-Im reauthorization prior to the looming Sept. 30 expiration of the credit agency’s charter (see 14062405). “There are indications that they may put forward a short-term bill instead of working with Democrats on a multi-year reauthorization that would provide greater certainty to businesses looking to sell their products overseas,” said Hoyer. “There’s little doubt that the majority of the House would support a long-term reauthorization.”